Sunday, January 29, 2006

Selling Now and Renting

This article is from Gannett via the Asbury Park Press. In the Jersey Shore area I have seen lots of single family house for rent and the rental prices look like bargains next to the cost to own.

"Kurt Nishimura is taking a calculated ride on the nation's real estate wave. He sold his home in the Willo neighborhood of Phoenix, believing its value has topped out, and is renting an apartment for a year, hoping to buy something after the wave has crested.

Nishimura is not alone.

A few people are cashing in, some for good, others to sit it out for a while, hoping to beat the market. They're betting on a crash, on the belief that the market will soon cool, and there will be bargains for the picking.

The idea: Get your money out near the top and, if you're near retirement, keep it; if you're not, wait until the market drops to get back in.

But the move is risky, akin to day trading, according to financial and real estate experts. You could win big or lose big."

More...

4 Comments:

Anonymous Anonymous said...

I sold out and will be renting at the shore! Thats the same story about what I did!

I wonder if we made the right choice! Who knows! I cashed out, have no doubt and no home! I think cash will be king for the next two years anyway.

Monday, January 30, 2006 4:44:00 PM  
Blogger njcoast said...

I cashed out in 2004 but didn't want to rent, so I bought a smaller home ( all cash ) 1 mile inland to wait out the bubble and reduce my down side risk. There aren't alot of year round single family home rentals here, unless you want rent in Asbury Park- no thank you. I feel the bubble is going to pop from the top down so hopefully I can get out of my last purchase with losing what I would have spent on rent.
I'll wait till prices come down at least 30% then go back to the beach house.

Tuesday, January 31, 2006 6:24:00 PM  
Blogger Little Silvered said...

I'm noticing more single family houses for rent. I wrote last week that I noticed 3 in Little Silver within walking distance of Markham Place school. Little Silver never had any sf homes for rent until recently.

Tuesday, January 31, 2006 7:33:00 PM  
Anonymous real estate listings said...

You have a great website here, and I'm going to tell all my friends about it.

Tuesday, March 07, 2006 7:05:00 AM  

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